Digital Financial News

“Telecom players want to transform internally to meet consumer & enterprise demand for reliable digital services but challenges with complex systems, inorganic growth, disparate operations, and siloed functions impede transformation. The need for a Telecom-Native, 360-degree partner to drive holistic outcomes across IT, digital, operations, network, and data is paramount. We believe this recognition by Gartner reaffirms Prodapt’s proven expertise in delivering these for telcos," said Harsha Kumar, CEO of Prodapt. “CSP CIOs and other technology leaders should identify more-relevant IT service providers, in sourcing for new projects and initiatives, by checking their service and capability focus areas, strength of industry prioritization, regional relevance, company size, and DNA," says analyst Jouni Forsman in the Gartner report. Prodapt’s clients include the largest global CSPs, hyperscalers, Network Equipment Providers, and technology enterprises including social media, search platforms, and digital-native companies.

Unified Payments Interface (UPI) has emerged as a popular mode of payment for millions of Indians. With its convenience and ease of use, UPI has revolutionised the way people transfer money and make purchases. However, as with any online transaction, there is always a risk of falling prey to scammers and fraudsters.

Standard Chartered Plc is in the early stages of a search for its next chair as the emerging markets-focused bank prepares for the departure of Jose Vinals, who’s entering his eighth year in the role. The London-based lender is working with outside recruiters on a global search to identify candidates to find a replacement for Vinals, according to people familiar with the matter, who asked not to be identified discussing private information.

By Anisha Sircar

The international banking giants HSBC and Hang Seng Bank have joined China’s digital yuan pilot.

Bharti Airtel’s selling and distribution (S&D) costs are nearly four times higher than Reliance Jio’s as the Sunil Mittal-led telecom operator’s premium branding and pricing strategy are vital for acquiring and retaining high-value customers as well as sustaining its 12% higher average revenue per user (ARPU) than the telecom market leader, said analysts. As per company data and CLSA estimates, Bharti Airtel’s S&D expenses are 8% of revenue compared to Jio’s 2%. The global brokerage estimates Bharti Airtel’s S&D and associated costs will hit Rs 15,200 crore in 2023-24, four times higher than Jio’s estimated Rs 3,800 crore. “Bharti’s higher S&D spend and branding efforts are key as its premium branding helps sustain premium ARPU and improve market share,” CLSA said. This, it said, is because India’s second-largest telco follows a unified strategy for all its services under the Airtel flagship brand, which has resulted in quality advantages.

Shashank Srivastava, Senior Executive Officer (Marketing and Sales), Maruti Suzuki India, says: “Yesterday, we filed with the stock exchange. We have said clearly that we will affect the price increase in January and that is because of the general inflationary pressure and also some of the commodity prices pressure. The combination of these two has resulted in our decision to increase the prices in January.” How are things? Things are okay.

BharatPe on Tuesday announced that it has turned Ebitda positive in October with annualised revenue crossing Rs 1,500 crore. Without giving out the actual number, BharatPe in a statement said the financial milestone was attributed to consistent growth across all business lines. Earnings before interest, taxes, depreciation, and amortisation (Ebitda) is a measure of core corporate profitability.

The Indian Express, citing sources said, the government may include a possible four-hour window for the first transaction between two users for online transactions above ₹2,000. The proposed measure would cover not just include Unified Payments Interface (UPI) but also other digital payment methods such as Immediate Payment Service (IMPS) and Real Time Gross Settlement (RTGS), the report added. 5 tips to safeguard your UPI transactions At present, if a user creates a new UPI account, they can send a maximum of ₹5,000 in the first 24 hours.

By Foo Yun Chee

In the ever-shifting landscape of cryptocurrencies, Bitcoin, the pioneering digital asset, is currently trading at $37,182, experiencing a slight downturn of around 1% on Tuesday. Amidst this fluctuation, Bitcoin continues to offer unparalleled transactional independence, a quality not without its challenges as Kennedy voices concerns over the potential threats posed by Central Bank Digital Currencies (CBDCs).

Sanjiv Bhasin, Director, IIFL Securities, says “Paytm promoters are the maximum holders and even their shareholding is almost below 10%. So, there are no very big old shareholders. This is only a matter of opportunity to buy this stock. The fintechs, particularly PB Fintech, Paytm, Zomato are headed much higher over a period of time.” What do you make of the Berkshire Hathaway exit for Paytm? Is it going to materially impact the stock, according to you? So, one, it is a buying opportunity. I mean, Berkshire has not exited because it is in profit, it is because of the mistiming of the event before the pre-IPO placement and so on. Paytm is a unique case of fintech and the digital app going extremely positive. Positive news on their NBFC front is also where they are doing kirana lending.

BSE Ltd while Nomura has a neutral rating on Eicher Motors. Also, Elara Capital recommended a buy on L&T and HDFC Securities Institutional Research has a buy on Sai Silks (Kalamandir). We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Jefferies on BSE: Buy| Target Rs 2700 Jefferies initiated coverage on BSE Ltd with a buy with a target of Rs 2700.

artificial intelligence (AI) means safeguards need to be built into systems from the start rather than tacked on later, a top US official said on Monday. «We've normalized a world where technology products come off the line full of vulnerabilities and then consumers are expected to patch those vulnerabilities. We can't live in that world with AI,» said Jen Easterly, director of the U.S. Cybersecurity and Infrastructure Security Agency.

(Reuters) — China-founded fashion company Shein has confidentially filed to go public in the United States, two sources familiar with the matter told Reuters on Monday.

Wipro executive told ET. “Because India is the largest country in the world (in terms of population), it will be generating demand that is going to create growth and India will be also producing a lot of data," said Ivana Bartoletti, global chief privacy officer, Wipro. «Hence, that trust element becomes absolutely important. Second, India will be serving global markets and that means there is more alignment on the discussion (governance and responsible AI) that is happening worldwide.”

central bank digital currencies (CBDC), sources close to the development told ET. An internal Reserve Bank of India (RBI) working group has been exploring the best technology path to develop a roadmap for such direct transactions between two countries. CBDC, or the equivalent of paper money in a digital form, has the potential to be a game-changer, particularly in facilitating cross-border settlements that currently require the Swift platform for routing funds through banks.

corporate governance lapses across well-funded startups in India has already turned investors wary of writing big cheques when the sector is also facing a funding winter. There's a domino effect of it now as there have been several instances of big-ticket investors conducting additional layers of checks and balances with late-stage startups, ET has learnt during conversations with almost half a dozen stakeholders in the ecosystem.

Locked crypto assets valued at $750 million are set for release by December 2023, according to data gathered from the Token Unlocks platform.

As Shiba Inu (SHIB), a cryptocurrency initially categorized as a ‘meme coin’, continues to gain traction in the digital currency space, it’s drawing significant market attention. Trading at $0.000008, SHIB has notched an impressive 24-hour trading volume exceeding $208 million.

Nine Blocks Capital Management has become the first crypto hedge fund to obtain a Virtual Asset Management and Investment Services license from Dubai’s Virtual Assets Regulatory Authority (VARA), the company announced in a press release Monday.